Core consumer price inflation in Tokyo in October was unchanged from the previous month as the consumer price index, which excludes fresh food prices, rose by 1% on yearly basis as expected.
The data gave little encouragement to the Bank of Japan in its pursuit of inflation target of 2%. The data comes ahead of the BoJ interest rate review when it meets next week as monetary policy is expected to remain unchanged and maintain its optimistic outlook on the economy even as global trade conflicts and market volatility cloud the growth outlook.
Tokyo's core consumer price index, which excludes fresh food and energy prices, rose by 0.6 percent in October after rising by 0.7 percent the previous month. Inflation remained well below the BOJ's target despite Japan's steady economic recovery, forcing the Bank of Japan to maintain its massive stimulus policy.
Tokyo's consumer price index rose by 1.5% in October from a year earlier, the highest since March 2015.
